Bloomberg News
Asian markets were muted in early trading Friday, as investors appeared to be readjusting their expectations about trade negotiations between the U.S. and China.
As high-level meetings between the world’s two largest economies were being conducted in Washington, President Donald Trump kept expectations low, saying China had become “spoiled” and that he doubted negotiations would be successful.
Japan’s Nikkei index was up slightly, putting it on pace for an eighth straight week of gains. Rising yields on U.S. Treasurys boosted Japanese insurance companies, with T&D Holdings Inc. and Dai-ichi Life Holdings Inc. posting early gains. A weakening yen also helped Japanese manufacturing companies, with equipment maker SMC Corp. up almost 3% and robot-maker Fanuc Corp. up about 1.5%.
South Korea’s Kospi advanced, following gains by Samsung Electronics . Australia’s S&P/ASX 200 was teetering between gains and losses, while the index’s energy sector hit a three-year high. Woodside Petroleum , Santos and Oil Search all were in the green. Stocks in New Zealand were up, though not enough to make up for losses earlier this week.
Hong Kong’s Hang Seng Index was down a fraction, as was China’s Shanghai and Shenzhen composites. Singapore’s Straits Times Index was last down more than 0.4%.